Up on Me
Market Update 8-1
by Edgar J. Steele
January 22, 2008
files of YOU (yes, you) Can Make a Difference:
Latest Nickel Rants:
1/14/08 - The R3volution is Dead - Long Live the Revolution!!! mp3 audio
1/7/08 - F**k Fox! mp3 audio
12/16/07 - Ron Paul or Revolution! mp3 audio
12/5/07 - BernieBucks mp3 audio
10/29/07 - Lead - The Other White Metal mp3 audio
12/31/07 - Fairly Unbalanced
12/28/07 - Fox Excludes Ron Paul
12/23/07 - You Only Think You Own Much of Anything
12/14/07 - The New Dollar mp3 audio
My name is Edgar J. Steele.
I admit it. Though just yesterday I told someone I expected Bernanke to act
today, I didn't really believe he would, and certainly not by a 3/4-point cut on
both rates, rather than just another 1/4 or 1/2 point. I figured he would
wait until the next FOMC meeting and then cut rates after all the heat he took
for acting precipitously the last time he engineered a special rate cut.
And they are in there buying up futures, right and left (dollar index is down 3/4 point), too, levitating the indices so that it looks like just another day on Wall Street. Query: will the rest of the world be fooled into not repeating what happened yesterday? Probably. For now.
All of my financial education, training and experience (except the most
recent stuff) is useless in the face of a massively-manipulated market. I
used to understand this stuff, but that was when it was a relatively free
market. All I can see clearly now is the trend and how it all must end,
the one thing that the morons running things seem incapable of perceiving!
I honestly expected to see the Dow down by 6- or 7-hundred points today. After all that happened overseas last night, who could blame them for that sort of decline? Easy call, right - let nature take its course for once and bleed a little of the pressure off?
But, nooooooooooooooooooo......WhirlyBen never has seen a macroeconomic trend
he thought he couldn't fix with the direct laying on of hands. When
will this guy catch a clue?
These are very interesting times. Does Bernanke let the stock market collapse or let the dollar drift ever downward? I predict that he fill futz around like this and end up with both.
Even mainstream commentators now accept Recession and, even, mention the D word regularly, though still they refuse to foresee the dollar evaporating in a hyperinflationary fizz. Then they congratulate each other for forecasting today's state of affairs less than a year ago. Maybe they read my book four years ago, come to think of it.
Somebody asked me for a market update the other day. "Ok," I said, "buy silver." They thought it was a joke. It wasn't.
There is nothing to update. Same game plan as before. In fact, the same as outlined in my book, so long ago. Continue to move your pieces off the board and into physical silver and, if you must, gold coins worth at least twice their melt value. Take possession. Trust no financial company to hold silver for you, even in your name and with serial numbers. Fractional-reserve silver exists and is increasing daily.
The only equities I would consider, for those who have pensions and IRAs that must be invested, are non-junior mining and energy stocks. Had the market crashed today, those prices would have melted right along with everything else. It still could happen...as early as tomorrow, too. Yes, some would come back, but some would not.
Copyright ©2008, Edgar J. Steele
Forward as you wish. Permission is granted to circulate both the written and audio version of this Nickel Rant among private individuals and groups, post on all Internet sites and publish in full in all not-for-profit publications. The audio version of this Nickel Rant may also be freely used in its entirety by for-profit broadcasting entities, but is not to be included in any recorded format which then is sold to others. The audio version may be rebroadcast, either live or archived on the Internet, either copied or linked directly to my web site, profit and nonprofit alike, so long as it is used in its entirety. In fact, I encourage any and all radio hosts to use it freely. Contact author for all other rights, which are reserved.
On-Line link to this rant in HTML format: http://www.conspiracypenpal.com/columns/update0801.htm
Subscribe: Click here
Note: One or both of the following
buttons may not work with your email program or browser. If so, then
and make use of the order buttons there, which should work with your
Buy copies of Defensive Racism - An Unapologetic Examination of Racial Differences, which extensively addresses the problems confronting America, now is available through www.Amazon.com (please consider going there and posting a review if you already have read it), though you can get a $5 discount by ordering directly from the publisher. Additional significant quantity discounts will be applied during the order process. Visit www.DefensiveRacism.com for more information and on-line ordering information or simply click below (for an autographed copy, simply write in "Sign mine" in the comments section of the on-line order blank):
Donations to help with the cost of our efforts may also be mailed to Edgar Steele, PO Box 1255, Sagle, ID 83860. Until the politically incorrect begin to get a fair shake in America, and because of unfairly-applied income tax regulations, I regret that your donation cannot legally be deducted on your tax return. I must also make the following statement, to ensure that I need not declare it as income and pay tax on it and to avoid being charged with misuse of funds, for which some patriot leaders falsely have been charged and imprisoned: your donation is a gift to me, personally.
Complete archive of past articles, essays, rants, interviews and speeches, including sound files, maintained at: www.ConspiracyPenPal.com